October 6, 2020 Headlines

Treasuries are little changed across much of the curve to start the day, and S&P 500 futures are pointing to a positive open for the index. Markets are awaiting Fed Chair Powell’s speech later this morning as part of a NABE conference, although it should be more of the same ultra-dovish tone from the Fed leader. The IMF is calling on rich, developed nations to put aside concerns over relatively high government debt loads and to immediately increase public infrastructure investment in order to “revive economic activity from the sharpest and deepest global economic collapse in contemporary history.” The IMF argues that now is the right time for such projects amid record low interest rates and elevated unemployment due to the pandemic.

Jason Haley
Chief Investment Officer

Date Event Survey Actual Prior Revised
10/5/2020 Markit US Services PMI 54.6 54.6 54.6
10/5/2020 Markit US Composite PMI 54.3 54.4
10/5/2020 ISM Services Index 56.2 57.8 56.9
10/6/2020 Trade Balance -$66.2b -$67.1b -$63.6b -$63.4b
10/6/2020 JOLTS Job Openings 6500 6618
10/7/2020 MBA Mortgage Applications -4.80%
10/7/2020 FOMC Meeting Minutes
10/7/2020 Consumer Credit $14.000b $12.250b
10/8/2020 Initial Jobless Claims 820k 837k
10/8/2020 Continuing Claims 11400k 11767k
10/8/2020 Bloomberg Consumer Comfort 49.3
10/9/2020 Bloomberg Oct. United States Economic Survey
10/9/2020 Wholesale Inventories MoM 0.50% 0.50%
10/9/2020 Wholesale Trade Sales MoM 4.60%


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